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The long-run evolution of infrastructure services

Goldsmith, Hugh - 2014

This paper traces the 11,000 year evolution of infrastructure systems during major periods of innovation, expansion and … millennia, although at times it has been pivotal in bringing innovation, taking risks and driving efficiency. It is argued that … innovation cycles, stressing that only an evolutionary, multi-disciplinary, systems approach embracing technology, finance, and …

Persistent link: https://www.econbiz.de/10010434094

Dynamics of open source movements

Athey, Susan; Ellison, Glenn - 2010

This paper considers a dynamic model of the evolution of open source software projects, focusing on the evolution of quality, contributing programmers, and users who contribute customer support to other users. Programmers who have used open source software are motivated by reciprocal altruism to...

Persistent link: https://www.econbiz.de/10008697802

Evolutionary stability in fiscal competition

Wagener, Andreas - 2016

In fiscal interaction, a policy is evolutionarily stable if, once adopted by all governments, jurisdictions that deviate from it fare worse than those that stick to it. Evolutionary stability is the appropriate solution concept for models of imitative learning (policy mimicking). We show that...

Persistent link: https://www.econbiz.de/10011436093

Initial luck, status-seeking and snowballs lead to corporate success and failure : presented at CESifo Area Conference on Industrial Organization, March 2004

Glazer, Amihai; Kanniainen, Vesa; Poutvaara, Panu - 2004

Corporate success stories often resemble a snowball. We show how initial luck in hiring talented people, the resulting technological advantage, superior corporate culture, and statusseeking by workers and by consumers can make small initial differences generate large differences over time.

Persistent link: https://www.econbiz.de/10011449539

International trade and cultural diversity : a model of preference selection

Bala, Vankatesh; Long, Ngo Van - 2004

We consider the evolution of preferences when trade occurs between two countries. We show that if one country is much larger than the other, its preferences can eventually take over the preferences of the second country. This result may provide an explanation of why small countries sometimes...

Persistent link: https://www.econbiz.de/10011450172

Long-run selection and the work ethic

Josephson, Jens (contributor); Wärneryd, Karl (contributor) - 2004

That individuals contribute in social dilemma interactions even when contributing is costly is a well-established observation in the experimental literature. Since a contributor is always strictly worse off than a non-contributor the question is raised if an intrinsic motivation to contribute...

Persistent link: https://www.econbiz.de/10002521604

The economics of a multilateral investment agreement

Che, Jiahua; Willmann, Gerald - 2009

This paper models a multilateral agreement on investment (MAI) as a coordination device. Multinational enterprises can invest in any number of countries. Without a multilateral investment agreement, expropriation triggers an investment stop by the single MNE. Under a multilateral agreement,...

Persistent link: https://www.econbiz.de/10003808670

Inflation targeting by debtor central banks in emerging market economies

Löffler, Axel; Schnabl, Gunther; Schobert, Franziska - 2010

Given buoyant capital inflows and managed exchange rates the majority of emerging market central banks have continued to accumulate massive foreign reserves. If left unsterilized, the liquidity expansion can threaten domestic macroeconomic stability. To contain domestic inflation these central...

Persistent link: https://www.econbiz.de/10003994520

Strategic currency choice in international trade

Sokolova, Maria V. - 2015 - October 12, 2015, First version: December 2013

" theory, which indicates that increases in firms' export size change the buyer's and seller's preferences over currency …

Persistent link: https://www.econbiz.de/10011374196

Market structure and the cost of capital

Arouri, Mohamed; Rault, Christophe; Sova, Robert; Sova, … - 2013

We contribute to the finance literature in two main ways. First, we present a theoretical capital asset pricing model (CAPM) to price assets in different market structures. Second, we use our model to analyze whether when markets are partially segmented using the local or the global CAPM yields...

Persistent link: https://www.econbiz.de/10009700297

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